TSX futures fall on global cues

February 26, 2019

(Reuters) – Stock futures for Canada’s main index edged lower on Tuesday, taking cues from world markets, which took a breather after scaling a five-month high.

March futures on the S&P/TSX index inched down 0.02 percent at 7:10 a.m. ET.

World shares took a breather on Tuesday having scaled a five-month high, while Britain’s pound charged to a one-month top on renewed speculation that UK Prime Minister Theresa May was being bundled towards delaying Brexit.

The Toronto Stock Exchange’s S&P/TSX rose 44.02 points, or 0.27 percent, to close at 16,057.03 on Monday.

Dow Jones Industrial Average e-mini futures were down 0.37 percent at 7:10 a.m. ET, while S&P 500 e-mini futures edged down 0.21 percent and Nasdaq 100 e-mini futures were down 0.28 percent. [.N]

TOP STORIES [TOP/CAN]

Bank of Nova Scotia, Canada’s third-biggest lender, reported a lower-than-expected adjusted quarterly profit on Tuesday, hurt by higher non-interest expenses and lower income from its domestic business.

Bank of Montreal reported a 10 percent increase in first quarter earnings, benefiting from a strong performance at its personal & commercial banking business in the United States.

Thomson Reuters on Tuesday reported a 9 percent rise in quarterly revenue, stripping out the impact of currency, helped by higher sales at its Legal and Tax & Accounting businesses.

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Alimentation Couche-Tard Inc: RBC raises price target to C$86 from C$80.

George Weston Ltd: RBC raises price target to C$139 from C$138.

Trevali Mining Corp: CIBC cuts rating to neutral from outperformer.

COMMODITIES AT 7:10 a.m. ET [COM/WRAP]

Gold futures: $1,324.3; fell 0.17 percent [GOL/]

US crude: $55.48; was unchanged 0 percent [O/R]

Brent crude: $65.2; rose 0.68 percent [O/R]

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 Building permits: number for Dec: Expected 1.290 mln; Prior 1.322 mln

0830 Build permits: change mm for Dec: Prior 4.5 pct

0830 Housing starts number for Dec: Expected 1.250 mln; Prior 1.256 mln

0830 House starts mm: change for Dec: Prior 3.2 pct

0900 Monthly home price mm for Dec: Prior 0.4 pct

0900 Monthly home price yy for Dec: Prior 5.8 pct

0900 Monthly Home Price Index for Dec: Prior 269.2

0900 Caseshiller 20 mm SA for Dec: Expected 0.3 pct; Prior 0.3 pct

0900 Caseshiller 20 mm NSA for Dec: Prior -0.1 pct

0900 Caseshiller 20 yy for Dec: Expected 4.5 pct; Prior 4.7 pct

1000 Consumer Confidence for Feb: Expected 124.7; Prior 120.2

1000 Rich Fed Composite Index for Feb: Prior -2

1000 Rich Fed, Services Index for Feb: Prior 6

1000 Rich Fed Manufacturing Shipments for Feb: Prior -8

1030 Texas Service Sector Outlook for Feb: Prior -4.8

1030 Dallas Fed Services Revenues for Feb: Prior 14.9

(Reporting by Hrithik Kiran Bagade in Bengaluru; Editing by James Emmanuel)

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